By Sheri Kasprzak
New York, May 1 - YGC Resources Ltd. has increased the size of its previously announced private placement to C$8.15 million from C$6.65 million.
The company now plans to sell up to 5 million flow-through shares at C$1.50 each and up to 500,000 non flow-through shares at C$1.30 each.
The deal priced on April 26 as a C$6.65 million offering of 4 million flow-through shares and 500,000 non flow-through shares.
Pacific International Securities Inc. is the placement agent and has a greenshoe for up to 500,000 flow-through shares and up to 50,000 additional non flow-through shares.
The proceeds will be used for development on the Ketza River property and for working capital.
Vancouver, B.C.-based YGC is a mineral exploration company.
Issuer: | YGC Resources Ltd.
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Issue: | Flow-through and non flow-through shares
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Amount: | C$8.15 million
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Placement agent: | Pacific International Securities Inc.
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Pricing date: | April 26
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Upsized: | May 1
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Stock symbol: | Toronto: YGC
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Stock price: | C$1.80 at close May 1
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Flow-through shares
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Shares: | 5 million
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Greenshoe: | For 500,000 shares
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Price: | C$1.50
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Warrants: | No
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Non flow-through shares
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Shares: | 500,000
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Greenshoe: | For 50,000 shares
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Price: | C$1.30
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Warrants: | No
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